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Certified Government Financial Manager (CGFM)

Certified Government Financial Manager (CGFM)

Free Practice Test

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  • TypeExam Format
  • No. of Questions18
  • AccessImmediate
  • Access DurationLife Long Access
  • Exam DeliveryOnline
  • Test ModesPractice

Practice Exam

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  • TypeExam Format
  • No. of Questions77
  • AccessImmediate
  • Access DurationLife Long Access
  • Exam DeliveryOnline
  • Test ModesPractice, Exam

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Certified Government Financial Manager (CGFM)


Certified Government Financial Manager (CGFM) is a professional certification exam by AGA, which demonstrates competency in governmental auditing, accounting, financial reporting, budgeting at the federal and internal controls, local and state levels. CGFM is a respected credential that recognizes the specialized knowledge and experience needed to be an effective government financial manager. Being a CGFM allows you to expand your career opportunities and distinguishes you from others in your field.


Who should take the exam?

  • The candidates applying for CGFM must have a minimum of two years of professional-level expertise in the government financial management initial to designating as a CGFM. 
  • The experience prerequisites not required to sit for the examinations. However, documentation related to professional experience must be shown and approved by the AGA before the CGFM accreditation can be awarded, and the certificate is issued. 


Course Outline 

The Certified Government Financial Manager (CGFM) exam has been divided into - 

Examination 1: Government Environment (GE)

  • The organization, authority and structure of government (15%)
  • The legally-based significance of the government financial environment (15%)
  • Government management unicycle (16%)
  • Governmental financing procedure (24%)
  • Identifying definitions, and the notions of public accountability (12%)
  • Ethics as implemented to the governmental environment (10%)
  • Delivering government information and services electronically (8%)

Examination 2: Governmental Accounting, Financial Reporting and Budgeting (GAFRB)

  • Governmental financial reporting, accounting, and budgeting general knowledge (40%)
  • Local and State  financial reporting and accounting (30%)
  • Federal financial reporting and accounting (30%)

Examination 3: Governmental Financial Management and Control (GFMC)

  • Financial management (25%)
  • Managerial and Financial Analysis Techniques (15%)
  • Internal dominance (25%)
  • Performance management//service attempt and accomplishments (15%)
  • Auditing (20%)


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Exam Format and Information

Exam Name Certified Government Financial

Manager (CGFM)

Exam Code CGFM
Exam Duration 2hours and 15 minutes
Exam Format Multiple Choice Questions
Exam Type Finance 
Number of Questions 115 Questions

Eligibility/Pre-Requisite 2 years of professional-level

experience 

Exam Fee $125 USD
Exam Language English
Pass Score 500 (on a scale of 200-700)

Certified Government Financial Manager (CGFM) FAQs

There is a $125 fee per examination. There are 3 exams in total in the CGFM certification exam. You can pay it online when submitting the CGFM application form.
The candidate will enhance their marketability, reader network opportunities with the governmental financial managers. Also, it will increase employee value and confidence on the job.
The candidate must have a bachelor's degree from an authorized college or university.
The candidate has 18 months from the date of their application to be reviewed to clear the three CGFM examinations.
“My path to CGFM” by AGA has been designed to help the CGFM candidates in monitoring their progress for completing their CGFM. Through this, candidates will be capable to monitor which steps they have already completed and can view their eligibility status, end of eligibility status and exam status.
No. AGA membership renders various valuable advantages, but it is not necessary for the CGFM certification.
If the candidate’s eligibility period ends before they pass all three CGFM exams, then they will reapply for exams and pass all the exams again. Extensions of eligibility period may be granted to those individuals who have passed some but not all of their exams before the last of their period. And, no extensions will be given to those individuals who have not cleared any of their CGFM exams. To request an extension of eligibility and getting the correct information, contact AGA 30 days before the expiration date of the eligibility period.
The finest way to study itself depends on the candidate’s knowledge, time, experience, location constraints and individual preferences. The candidate can start by evaluating the content of each exam.
AGA has designed its three study guides to assist the study for all the three CGFM examinations. Exam 1: Governmental Environment, Exam 2: Governmental Accounting, Financial Reporting and Budgeting, and for Exam 3: Governmental Financial Management and Control.
Yes, sample questions for CGFM examinations are available on the official site of CGFM.
Each examination of CGFM has 115 questions. You are given 2 hours and 15 minutes to complete each of the exams.
If the candidate does not clear the exam first time, then they must wait for 30 days before retaking the exam. The cost is the same i.e. $125 (USD). If they don't pass the second time, there is a waiting period of 60 days between retakes. And, there is no limitation to how many times a candidate can retake the exam, as long as they are within the eligibility period.
Go to Certification Process for information on application requirements and to apply online go to the official page of AGA’s CGFM.

 

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